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will the white house let our economy go over the fiscal cliff if a deal on higher tax rates for the wealthy is not reached? we're checking it out. back in a moment. [ male announcer ] research suggests cell health plays a key role throughout our lives. one a day men's 50+ is a complete multivitamin designed for men's health concerns as we age. it has 7 antioxidants to support cell health. one a day men's 50+. it's easy to follow the progress you're making toward all your financial goals. a quick glance, and you can see if you're on track. when the conversation turns to knowing where you stand, turn to us. wells fargo advisors. >>> welcome back. this very public negotiation on the fiscal cliff still does not seem to be closing in on a deal. the white house out in campaign style events regularly, making multiple media appearances, kle including timothy geithner right here in 25 minutes. >> but would things be done faster if it was done privately? in his latest column, jeff goldfor a compares u.s. budget talks to merger proxy battles. jeff joins us to explain about that. plus, we have bob from
will the white house let our economy go over the fiscal cliff if a deal on higher tax rates for the wealthy is not reached? we're checking it out. back in a moment. [ male announcer ] research suggests cell health plays a key role throughout our lives. one a day men's 50+ is a complete multivitamin designed for men's health concerns as we age. it has 7 antioxidants to support cell health. one a day men's 50+. it's easy to follow the progress you're making toward all your financial goals. a...
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Nov 29, 2012
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from the fiscal cliff to the twinkies, it's the latest here for the hostess bankruptcy saga. a judge at southern district bankruptcy court here in white plains approved a $1.8 million payout to 19 of hostess' executives. that's excludeing the chairman and ceo greg raybourn. that will be an incentive payout to have the executives have the appropriate motivation to wind down the business. there are certain benchmarks and cost cutting and sale mechanisms this place. that's important because now the focus shifts to selling the 30 businesses left. of course, many of hostess' brands are extremely iconic. we all know the twinkie. we all know the ding dong. we heard today from the hostess lead banker running that sale. he said there are 110 interested buyers that are potentially going to bid. 70 of those buyers have signed nondisclosure agreements. he expects about 50% of those bids to actually materialize into real interest come december 10th. everyone is talking about saving the twinkie. when you look at the breakdown of the brand's revenues, it's the donuts that make the most mone
from the fiscal cliff to the twinkies, it's the latest here for the hostess bankruptcy saga. a judge at southern district bankruptcy court here in white plains approved a $1.8 million payout to 19 of hostess' executives. that's excludeing the chairman and ceo greg raybourn. that will be an incentive payout to have the executives have the appropriate motivation to wind down the business. there are certain benchmarks and cost cutting and sale mechanisms this place. that's important because now...
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Nov 29, 2012
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but going over the fiscal cliff is serious business. and i'm here seriously trying to resolve it. and i would hope the white house would get serious as well. >> is this assessment -- is this assessment of yours based on the meeting with secretary geithner or your phone call with president obama last night and can you tell us something about that phone call? >> well, we had a very nice conversation last night. it was direct. and straightforward. but this -- this assessment i give you today would be a product of both of those conversations. >> how much would you be open to the idea of discretionary spending cuts as part of a down payment to get to a longer range solution on entitlements and tax reform. >> there are a lot of options that are on the table including that one. >> mr. speaker, before the election you were asked whether if obama won, taxes would have to go up. you've made it sound like you would oppose that. now you've -- you're acknowledging that they will. >> the day after the election, i came here and made it clear that republicans would put revenue on the table. as a
but going over the fiscal cliff is serious business. and i'm here seriously trying to resolve it. and i would hope the white house would get serious as well. >> is this assessment -- is this assessment of yours based on the meeting with secretary geithner or your phone call with president obama last night and can you tell us something about that phone call? >> well, we had a very nice conversation last night. it was direct. and straightforward. but this -- this assessment i give you...
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Dec 4, 2012
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the white house rejected a gop counterproposal yesterday on the fiscal cliff. we don't know what's going on behind the scenes, hopefully something at this point, at least we know where the two, you know, polar areas are. >>> oracle is accelerating its 2013 dividends payments. kind of interesting. it's going to pay its fiscal second, third, and fourth quarter dividends before the end of the year. the latest company to accelerate dividend payments to avoid higher dividend rates next year. >>> and sprint is reportedly unlikely to make a counteroffer for metropcs. reuters said sprint will concentrate on closing its deal to sell up to 70% of itself to soft bank. sprint pcs has agreed to a takeover. >>> we've got more of our exclusive interview with brian moynihan. we also discussed the state of financials and the upcoming fed stress test. the banks have to turn in their capital plans to the fed by january 7th so i asked moynihan about the bank's dividend plan. >> we let everybody know and i think there's -- look work we fared well last year and i assume we'll farewe
the white house rejected a gop counterproposal yesterday on the fiscal cliff. we don't know what's going on behind the scenes, hopefully something at this point, at least we know where the two, you know, polar areas are. >>> oracle is accelerating its 2013 dividends payments. kind of interesting. it's going to pay its fiscal second, third, and fourth quarter dividends before the end of the year. the latest company to accelerate dividend payments to avoid higher dividend rates next...
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Nov 30, 2012
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. >> yesterday the white house fiscal cliff proposal made top senate republican mitch mcconnell laugh, we are told. >> today the rhetoric continued. eamon javers breaks down all the hardball offers and the reactions in washington. over to you, eamon. >> hi, guys. we got a lot going on here in washington this week. a lot of horse trading. we dealt with a lot of the spee speech. the white house is saying they'd like to see $1.6 trillion in tax increases up front here. they'd like to continue the payroll tax credit. they want a permanent increase in the debt limit and a one-year extension of expanded jobless benefits. they want at least $50 billion in spending as a stimulus to the economy. that was the white house ask that prompted that laugh from mitch mcconnell when tim geithner gave it to him yesterday. today in an interview with "the wall street journal," mcconnell floated his own balloon of what he'd like to see. here are some of the elements. mcconnell saying they want changes to entitlement eligibility. they would agree to more tax revenue, yes, but not higher rates. only if they
. >> yesterday the white house fiscal cliff proposal made top senate republican mitch mcconnell laugh, we are told. >> today the rhetoric continued. eamon javers breaks down all the hardball offers and the reactions in washington. over to you, eamon. >> hi, guys. we got a lot going on here in washington this week. a lot of horse trading. we dealt with a lot of the spee speech. the white house is saying they'd like to see $1.6 trillion in tax increases up front here. they'd...
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Dec 6, 2012
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he says the white house is prepared to go over the fiscal cliff if republicans don't give in on higher taxes on the wealthy. you can see we're weighted to the up side by a ratio of 8:1 at the moment. finland is not trading today, so you may see some quotes not doing very well. we saw apple stock having the biggest loss in four years. the ftse yesterday slim gains really. up 0.4%, the dax up a quarter of a percent. is this a this is where we stand as we wait for the announcements from the ecb. we're up at a 52 week high for the xetra dax. cac 40 up half a percent and ibex up half a percent, as well. take a look at bond yields. we looked at that auction yesterday from spain. they raised 4.3 billion. years went lower. nevertheless spanish yields today 5.4%, slightly lower from where we closed, but they did move up substantially after a handle of 5.2. we'll keep our eye on gilts, as well. we'll look ahead to the bank of england. nothing expected from them, of course. 1.8%. david miles was the only man who voted for more qe at the last meeting. as far as currency rates are concerned, euro-d
he says the white house is prepared to go over the fiscal cliff if republicans don't give in on higher taxes on the wealthy. you can see we're weighted to the up side by a ratio of 8:1 at the moment. finland is not trading today, so you may see some quotes not doing very well. we saw apple stock having the biggest loss in four years. the ftse yesterday slim gains really. up 0.4%, the dax up a quarter of a percent. is this a this is where we stand as we wait for the announcements from the ecb....
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Nov 30, 2012
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comment on the fiscal cliff. headline -- john boehner calling the white house's most recent offer not a serious proposal reiterating the fact that is he willing to put revenues on the table but not through a raise in the tax rates, by closing loopholes. he wants lower tax rates. reiterating the republican position there. harold ford jr., the former democratic congressman, also doug holtz-eakin is the former congressional budget office director. keith banks is here with us as well. harold, your reaction to what the house speaker says here? certainly doesn't seem, if you listen to either the president or the speaker, that we're any closer to a deal. >> i was encouraged by the speaker's remarks. he didn't put his foot down and say no adamantly or irretrievably to anything. whether asked specifically if rate increases were something he could support, he suggested that there were other means and other ways to achieve new revenue. a lot of ways i thought it was a measured response and we live to fight. those of us who
comment on the fiscal cliff. headline -- john boehner calling the white house's most recent offer not a serious proposal reiterating the fact that is he willing to put revenues on the table but not through a raise in the tax rates, by closing loopholes. he wants lower tax rates. reiterating the republican position there. harold ford jr., the former democratic congressman, also doug holtz-eakin is the former congressional budget office director. keith banks is here with us as well. harold, your...
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Dec 4, 2012
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go back to january harwood at the white house, president obama talking about the fiscal cliff. john? >> i wanted to play a soundbite from the bloomberg interview that i mentioned to sue a few minutes ago. one yes offered a carrot to say if you do that in the short term, put revenue on the table concretely in that way, we will have a long process of tax entitlement reform that could end up reducing the rate in 2013. here is the president. >> not able to come up with a comprehensive tax reform package that gets it all done just in the next two weeks. we are not going to be able to come one necessarily comprehensive entitlement reform package that gets it all done in the next two weeks. when you luke at what ronald reagan did back in 1986, working with bill bradley and others, that was a year and a half process. what i have suggested is let's essentially put a down payment on taxes, let's let tax rates on the upper income folks go up. >> now, the difficulty of tax reform has been a concern of the white house throughout this discussion, all the way back to 2011. it's why they insis
go back to january harwood at the white house, president obama talking about the fiscal cliff. john? >> i wanted to play a soundbite from the bloomberg interview that i mentioned to sue a few minutes ago. one yes offered a carrot to say if you do that in the short term, put revenue on the table concretely in that way, we will have a long process of tax entitlement reform that could end up reducing the rate in 2013. here is the president. >> not able to come up with a comprehensive...
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Nov 29, 2012
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. >>> today's to which stories, the looming fiscal cliff. congressional leaders and top white house negotiate tors are set to meet on capitol hill today. the economic agenda, we get a second read on third quarter gdp. and weekly jobless claims -- third read on second quarter. confusing. and weekly jobless claims before the opening bell. and the richest power ball jock pot ever and the second largest top prize in u.s. lottery history. why anyone would buy a ticket when becky and andrew were already going win is beyond me, but two tis
. >>> today's to which stories, the looming fiscal cliff. congressional leaders and top white house negotiate tors are set to meet on capitol hill today. the economic agenda, we get a second read on third quarter gdp. and weekly jobless claims -- third read on second quarter. confusing. and weekly jobless claims before the opening bell. and the richest power ball jock pot ever and the second largest top prize in u.s. lottery history. why anyone would buy a ticket when becky and andrew...
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Dec 7, 2012
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. >>> there's no deal to resolve the fiscal cliff but there are indications of inside-the-scenes talk. the white house told reporters that lines of communication remain open not sure exactly what that means but a spokesman for house speaker john boehner used a similar phrase. maybe that means call me? i don't know. analysts say there are some suggestions that there's real progress that can be made. >>> a 7.3 magnitude earthquake hit the northeastern coast of japan this morning, the same area as the devastating march 2011 quake. but there was a tsunami warning canceled and reports of injuries or damage even though the quake shook buildings. workers at the fukushima nuclear plant were ordered to higher ground as a precaution. >>> our guest host is dan gilbert, he's chairman and founder of quicken loans and the owners of the nba's cleveland cavaliers and among the topics we're ready to talk about dan, the risk of the looming fiscal cliff and the broader economy. we'll start with this morning's other top stories. dan, welcome, great to have you here. >> great to be here. >> we want to fin
. >>> there's no deal to resolve the fiscal cliff but there are indications of inside-the-scenes talk. the white house told reporters that lines of communication remain open not sure exactly what that means but a spokesman for house speaker john boehner used a similar phrase. maybe that means call me? i don't know. analysts say there are some suggestions that there's real progress that can be made. >>> a 7.3 magnitude earthquake hit the northeastern coast of japan this...
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Dec 3, 2012
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first up, we're one month away from the fiscal cliff and so far the white house and congressional republicans are still in disagreement over how to reduce the deficit and avoid a raft of tax hikes and spending cuts. yesterday our own jim cramer and maria bartiromo were on "meet the press" and cramer had a message for fellow panelists and father of the anti-tax pledge, grover norquist. >> most ceos are republican. they're on board. they're not on board with you. they're not on board with you because they fear your view. they think you do not favor going -- you favor going over the cliff. that's what they think. they think that you favor -- >> just for the record since we're on tv. that's silly if they think that they shouldn't be ceos. >> it doesn't really matter. that's what they think. >> i want you to walk me up to that moment. >> behind the record. i like that too. >> i'm stuck. like grover is stuck with this pledge he made everybody take which is that they have to go over the cliff because they obviously will not ever say the word tax. they will only say revenue. i'm stuck speaking to man
first up, we're one month away from the fiscal cliff and so far the white house and congressional republicans are still in disagreement over how to reduce the deficit and avoid a raft of tax hikes and spending cuts. yesterday our own jim cramer and maria bartiromo were on "meet the press" and cramer had a message for fellow panelists and father of the anti-tax pledge, grover norquist. >> most ceos are republican. they're on board. they're not on board with you. they're not on...
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Nov 29, 2012
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house's proffer here in the fiscal cliff negotiations. this is the proffer that apparently treasury secretary tim geithner was talking to republican leaders about today. wall street journal citing a number of specifics from this proposal. let me walk you through them and lay out the implications starting with what aides describe as the white house wanting $1.6 trillion in tax increases up front as part of any new deal. the white house wanting to continue the payroll tax credit or similar policy. the white house saying that it wants a permanent increase in the debt limit and pushing a one-year extension of jobless benefits plans. this one will be the kicker, i think, to any deal that might or might not get hashed out on capitol hill. "the wall street journal" reporting that republican aides are saying that the white house would like to see at least $50 billion in new spending to spur the economy. so in a debate we're seeing over spending cuts, "the wall street journal" now reporting at the top of this hour that the white house would like t
house's proffer here in the fiscal cliff negotiations. this is the proffer that apparently treasury secretary tim geithner was talking to republican leaders about today. wall street journal citing a number of specifics from this proposal. let me walk you through them and lay out the implications starting with what aides describe as the white house wanting $1.6 trillion in tax increases up front as part of any new deal. the white house wanting to continue the payroll tax credit or similar...
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. >> a reversal of fortune on wall street as stocks trade on fiscal cliff comments from president obama and john boehner. >> no substantive progress has been made in the talks between the white house and the house over the last two weeks. the white house has to get serious. >> republicans know where we stand. we've said it, we've said it, we've said it so many times. >> i think all of us today are confident we can reach a bipartisan agreement by christmastime. >> according to congressional republican aides who have talked to the "wall street journal," they say they have obtained a copy of the white house's proffer here in the fiscal cliff negotiations. >> do you have faith in any of them to rise above? >> would it be okay to go over? >> we will rise above. >> one can only hope. so how should investors brace themselves for the big week ahead? in today's trader triple play, jeff kilburg, along with mahir dongei. steve, you get to go first. would you have expected that today basically a flat-line kind of day for the dow and s&p and so forth, would have been more volatile given greece, give
. >> a reversal of fortune on wall street as stocks trade on fiscal cliff comments from president obama and john boehner. >> no substantive progress has been made in the talks between the white house and the house over the last two weeks. the white house has to get serious. >> republicans know where we stand. we've said it, we've said it, we've said it so many times. >> i think all of us today are confident we can reach a bipartisan agreement by christmastime. >>...
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. >> stocks trade on fiscal cliff comments from president obama and john boehner. >> no substantive progress has been made in talks between the white house and the house over the last two weeks. the white house has to get serious. >> republicans know where we stand. we have said it. we've said it. we've said it so many times. >> i think all of us today are confident we can reach a bipartisan agreement by christmastime. >> according to a congressional republican aides who have talked to "the wall street journal," they obtained a copy of the white house prover here in the negotiations. >> do you have faith in any of them to rise above? >> would it be okay to go over? >> we will rise above. >> eamon javers joins us live from washington. they seem farther apart than ever before. the dow is above 13,000 for the first time in several weeks. do you think the markets are reading comments correctly? >> i do think markets have gotten it wrong a lot this week. they have been reacting strongly to things that are boilerplate information and basic statements from congress that we hear all the time and mar
. >> stocks trade on fiscal cliff comments from president obama and john boehner. >> no substantive progress has been made in talks between the white house and the house over the last two weeks. the white house has to get serious. >> republicans know where we stand. we have said it. we've said it. we've said it so many times. >> i think all of us today are confident we can reach a bipartisan agreement by christmastime. >> according to a congressional republican...
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when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. >> so we all also from nancy pelosi, the democratic leader in the house of representatives earlier today. she came before cameras also, no news from her had as well. holding pattern here in washington. rhetoric is pretty heated on both sides. you heard boehner there saying the president has wasted a week here. but behind the scenes, aides did give us some indication they'll continue to talk through the weekend so i think what's going on here is you're seeing the public blast of ret lick but behind the scenes they are talking to each other. i think the talks are fair le well coordinated. you can tell that by how tightly the white house and boehner camp on the press side have coordinated their rollouts of what they've said about these talks. they're within minutes of each other, using the same language. that's an indication talks are sort of going along here. it is not an indication we will have a deal any time soon but there's no reason to give up hope just now
when it comes to the fiscal cliff that's threatening our economy and threatening jobs, the white house has wasted another week. >> so we all also from nancy pelosi, the democratic leader in the house of representatives earlier today. she came before cameras also, no news from her had as well. holding pattern here in washington. rhetoric is pretty heated on both sides. you heard boehner there saying the president has wasted a week here. but behind the scenes, aides did give us some...
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Dec 5, 2012
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. >>> talks between the white house and republicans over the fiscal cliff are grinding to a hold. house speaker john boehner dealing with division in the gop's ranks to his budget plan. we've got a shanghai surprise. china's mainland markets up over nearly 3% after beijing's new leaders called for economic stability and new business growth. and it looks like more austerity for britain. george osborne getting ready to release his autumn statement. >>> nokia shares a little bit high today. they are teaming up with china mobile, giving access to the world's biggest mobile phone markets. >>> if you just got up, very warm welcome to the start of your global trading day. stocks are on the front foot this morning. this is where we stand with u.s. futures. currently called up around about 30 points higher. the dow down, what, 13 points? the nasdaq called up just under 40 points. the s&p 500 at the moment is called up just over three points. it was down two points yesterday. european stocks doing a little built better. they were as flat as a pancake, as i've been saying. as flat as my panc
. >>> talks between the white house and republicans over the fiscal cliff are grinding to a hold. house speaker john boehner dealing with division in the gop's ranks to his budget plan. we've got a shanghai surprise. china's mainland markets up over nearly 3% after beijing's new leaders called for economic stability and new business growth. and it looks like more austerity for britain. george osborne getting ready to release his autumn statement. >>> nokia shares a little bit...
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Dec 6, 2012
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. >>> and finally tonight, my observation on the ongoing talks in washington over the fiscal cliff. reporting in the last half an hour that speaker boehner and the white house are finally resuming negotiations. albeit at staff levels, but it's a start. and i have a suspicion we might see more progress soon. you see, finally lawmakers are motivated. unfortunately, i don't think the motivation is to put america on a sustainable fiscal path. i think what's driving them is their scheduled vacations. yes. i really do. now, i know they'd never admit it, but look at the facts. everybody is planning to get out of d.c. for good two weeks from tomorrow, december 21st. including the president who already has an extended hawaii trip planned beginning december 17th. you'd think the fact that every working american's taxes will go up on january 1 without a deal would get them talking or that defense analysts telling us over and over if we go over the cliff, 40,000 jobs will be cut immediately in that sector and that's just lighting the fire for other cuts or widespread beliefs that we will have a
. >>> and finally tonight, my observation on the ongoing talks in washington over the fiscal cliff. reporting in the last half an hour that speaker boehner and the white house are finally resuming negotiations. albeit at staff levels, but it's a start. and i have a suspicion we might see more progress soon. you see, finally lawmakers are motivated. unfortunately, i don't think the motivation is to put america on a sustainable fiscal path. i think what's driving them is their scheduled...
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hopefully that momentum will continue not just on the fiscal cliff in the coming weeks but issues like the start-up act 2.0 in the coming months. >> gentlemen, look good. steve and scott, come back and let us know how it went in cowboy stadium. >>> google plans to start charging small businesses for its free services like e-mail and google docs. will consumers like you be next? >>> and from 50 stradz of grshaf gray to 5,000 shades of green. employees at random house getting a big stocking stuffer this season. we'll explain. ears, ameriprise financial has worked for their clients' futures. helping millions of americans retire on their terms. when they want. where they want. doing what they want. ameriprise. the strength of a leader in retirement planning. the heart of 10,000 advisors working with you one-to-one. together for your future. ♪ >>> stock of the day and certainly the stock of the week has been apple. its worst week in two years, down now $15 a share today at $531.64. about $50 billion in market value sliced off of apple this week alone. >>> time for the power rundown. with
hopefully that momentum will continue not just on the fiscal cliff in the coming weeks but issues like the start-up act 2.0 in the coming months. >> gentlemen, look good. steve and scott, come back and let us know how it went in cowboy stadium. >>> google plans to start charging small businesses for its free services like e-mail and google docs. will consumers like you be next? >>> and from 50 stradz of grshaf gray to 5,000 shades of green. employees at random house...
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can he convince the white house to back the republican solution to the fiscal cliff? one more look at futures on a tuesday morning as melissa said. not a lot of data today. just wait until the next three days. it all starts with adp, jobs coming up later this week. more "squawk on the street" back in a minute. bob, these projections... they're... optimistic. productivity up, costs down, time to market reduced... those are good things. upstairs, they will see fantasy. not fantasy... logistics. ups came in, analyzed our supply chain, inventory systems... ups? ups. not fantasy? who would have thought? i did. we did, bob. we did. got it. >>> shares of toll brothers are rising beating estimates helped by a jump in signed contracts and a drop in cancellation rates. every metric in this report came out gangbusters and the ceo cited this upswing in momentum that began in the first quarter of this year. they say next signed contracts increased quarter by quarter. 45%, 51%, 66% and 75%. now that's a case for momentum sustained here. >> the question is auto. obviously tremendous
can he convince the white house to back the republican solution to the fiscal cliff? one more look at futures on a tuesday morning as melissa said. not a lot of data today. just wait until the next three days. it all starts with adp, jobs coming up later this week. more "squawk on the street" back in a minute. bob, these projections... they're... optimistic. productivity up, costs down, time to market reduced... those are good things. upstairs, they will see fantasy. not fantasy......
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Nov 29, 2012
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ceos have just wrapped up their meeting with president obama about the fiscal cliff and minutes ago john harwood landed a big fish. goldman sachs ceo lloyd blank finefein. >> the highlight of the meeting was the intensity from which the white house emphasized that marge al rates as a matter of math and politics have to go up somewhat, if not all the way to 31.6 had to go up and as p he said as a necessary ingredient of a deal, he would support such a rate. >> the president said we would pursue our own interests. i'm not -- i'm certainly not insisting, i don't even desire higher rates. i think there lab drag if revenue goes up and rates go up. but i think there will also be a drag on the american economy if our budget deficit widens out forever, if we're irresponsible and governor doesn't work. left with those four choices, think think -- on the flip side, did republicans ask you to spend any nuts -- i think at this point both sides have acknowledged that there's going to be revenue concessions and entertainment concessions. in fact, if you listen to, it again, i'm not a master of the pol
ceos have just wrapped up their meeting with president obama about the fiscal cliff and minutes ago john harwood landed a big fish. goldman sachs ceo lloyd blank finefein. >> the highlight of the meeting was the intensity from which the white house emphasized that marge al rates as a matter of math and politics have to go up somewhat, if not all the way to 31.6 had to go up and as p he said as a necessary ingredient of a deal, he would support such a rate. >> the president said we...
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we're just 26 days away from the fiscal cliff. steve liesman joins us now live from the treasury. he has an exclusive interview with one of the key negotiators at the white house, secretary of treasury timothy geithner. >> maria, thank you. i'm here with the secretary of treasury at a crucial time. thank you for joining us. >> thank you. >> speaker boehner has put forward a proposal which "usa today" says demonstrates more political courage the democrats have shown. the white house is saying today it's not even wor ty -- worthy of a response. what are we missing? >> i think we are making progress. they acknowledged they were prepapered to do $800 billion in higher taxes on part of the american economy. that's part of the balanced framework. that's definitely progress. what we need to see is have them acknowledge the rates go up. if they're willing to accept that and commit to that, then we think we could do something good for the economy. we can make the government use the taxpayers' money more efficiently, lock in some spending savings and do some long-term entitlement reforms to
we're just 26 days away from the fiscal cliff. steve liesman joins us now live from the treasury. he has an exclusive interview with one of the key negotiators at the white house, secretary of treasury timothy geithner. >> maria, thank you. i'm here with the secretary of treasury at a crucial time. thank you for joining us. >> thank you. >> speaker boehner has put forward a proposal which "usa today" says demonstrates more political courage the democrats have shown....
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since then, there's been to counteroffer from the white house. instead, reports indicate that the president has adopted a deliberate strategy to slow walk our economy right to the edge of the fiscal cliff. >> former presidential candidate and vermont governor howard dean says bring it on. going over the fiscal cliff will actually help america. he's going to make his case, very bold statement there, to someone whose company will be decimated by the spending cuts to defense companies. you do not want to miss this confrontation. ricans are alwayso work hard for a better future. since ameriprise financial was founded back in 1894, they've been committed to putting clients first. helping generations through tough times. good times. never taking a bailout. there when you need them. helping millions of americans over the centuries. the strength of a global financial leader. the heart of a one-to-one relationship. together for your future. ♪ >>> pretty clear apple stock is having its worst week in more than two years. let's get to bertha coombs with th
since then, there's been to counteroffer from the white house. instead, reports indicate that the president has adopted a deliberate strategy to slow walk our economy right to the edge of the fiscal cliff. >> former presidential candidate and vermont governor howard dean says bring it on. going over the fiscal cliff will actually help america. he's going to make his case, very bold statement there, to someone whose company will be decimated by the spending cuts to defense companies. you...
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Nov 30, 2012
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stocks trade on fiscal cliff comments from president obama and john boehner. >> no substantive progress has been made in the talks between the white house and the house over the last two weeks. >> republicans know where we stand. we've said it, we've said it, we've said it so many times. >> i think all of us today are confident we can reach a bipartisan agreement by christmas time. >> according to congressional republican aides, they say they have obtained a copy of the white house's proffer here. at least $50 billion in new spending. >> do you have faith in any of them to rise above? >> would it be okay to go over? >> we will rise above. >> morgan stanley wealth management's chief investment strategist up next with his list of winners and losers. plus, how you can make money in these shaky markets as the year winds down. >>> later, as lawsuits pile up and hewlett-packard stock suffers, carly fiorina will join me for her first interview since the autonomy disaster came to light. wait until you hear who she says deserves the blame. >>> also, social security and medicare in focus. is this
stocks trade on fiscal cliff comments from president obama and john boehner. >> no substantive progress has been made in the talks between the white house and the house over the last two weeks. >> republicans know where we stand. we've said it, we've said it, we've said it so many times. >> i think all of us today are confident we can reach a bipartisan agreement by christmas time. >> according to congressional republican aides, they say they have obtained a copy of the...
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cliff. it is not bothering stocks yet. it will soon but as of today it is not. instead it was the rather poor i scht m number that came out, lowest since july 2009. just off the lows for the day. i think the important thing is if you look at sectors here, transports, materials, all the risk-on trades, industrials, all to the downside. getting a modest up side from technology stocks as dell got an upgrade today. >>> finally i just want to point out, another day gold is up, gold stocks are to the downside. this has been going on for a long time. take a look here. there's gold for the year. there's gold stocks. look at this underperformance for gold stocks. this has been happening because people more and more are putting money when they want to be in gold and inflation into the gold directly rather than the gold stocks. again this has been a trend for a while now and it is accentuated. general motors, even though numbers were a little bit disappointing, remember truck sales a little disappoints
cliff. it is not bothering stocks yet. it will soon but as of today it is not. instead it was the rather poor i scht m number that came out, lowest since july 2009. just off the lows for the day. i think the important thing is if you look at sectors here, transports, materials, all the risk-on trades, industrials, all to the downside. getting a modest up side from technology stocks as dell got an upgrade today. >>> finally i just want to point out, another day gold is up, gold stocks...
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the republicans may make another compromise with their latest counter offer on the fiscal cliff. not as many spending cuts as they originally wanted and slight entitlement reform. the white house has just reject this offer out of hand and once again it solely is because it doesn't raise tax rates on the rich. when is obama going to rise above that obsession? when will he lose that over rich people and tax rates? i don't know. tonight, i'm is going to try to call his bluff. anyway, also breaking tonight, potential catastrophe if syria uses its chemical weapons. president obama issues a stern warning to syria and i quote the world is watching. and there will be consequences if syria uses these wmds. have we just committed ourselves to another war? and the gun control debate is squarely back in the spotlight tonight after the murder/suicide by nfl player in kansas city, second amendment instead of blaming the sick people who use them. republicans have responded to a fiscal cliff counter offer to president obama. eamon javers joins us now from washington with all the details. good ev
the republicans may make another compromise with their latest counter offer on the fiscal cliff. not as many spending cuts as they originally wanted and slight entitlement reform. the white house has just reject this offer out of hand and once again it solely is because it doesn't raise tax rates on the rich. when is obama going to rise above that obsession? when will he lose that over rich people and tax rates? i don't know. tonight, i'm is going to try to call his bluff. anyway, also breaking...
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the fiscal cliff. we'll talk it all with top white house economic adviser dr. alan krueger. shares of whirlpool have more than double d this year. an exclusive with the ceo is coming up and opening bell on a friday morning is coming up next. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. i have obligations. cute tobligations, but obligations.g. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. ♪ [ male announcer ] this is karen and jeremiah. they don't know it yet, but they're gonna fall in love, get married, hav
the fiscal cliff. we'll talk it all with top white house economic adviser dr. alan krueger. shares of whirlpool have more than double d this year. an exclusive with the ceo is coming up and opening bell on a friday morning is coming up next. can i still ship a gift in time for christmas? yeah, sure you can. great. where's your gift? uh... whew. [ male announcer ] break from the holiday stress. ship fedex express by december 22nd for christmas delivery. i have obligations. cute tobligations, but...
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Dec 6, 2012
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as this fiscal cliff negotiations continues, they think boehner is trying to warn conservatives about going against any kind of deal he cuts with the white house. so as a warning, boehner is saying i'm going to boot you off your committee if you go against something i do. a lot of conservatives don't like it when he plays hardball. they're going to continue to fight back just like senator demint is doing right now. >> but he's also going to lose some votes on the moderate side. a couple dozen republican house members signed a bipartisan letter that says let's look at all kinds of tax rates, not just the deduction, but tax rates in relation to other spending. so you've got republicans jumping ship on both sides. >> that's exactly right. the speaker is going to have to make a critical choice, because the lines are being drawn in the sand right now here on capitol hill. you have the conservatives who are being booted off the committee. they're very angry with the speaker. they're not going to move at all on tax rates. but you've got a lot of moderates in the republican conference from th
as this fiscal cliff negotiations continues, they think boehner is trying to warn conservatives about going against any kind of deal he cuts with the white house. so as a warning, boehner is saying i'm going to boot you off your committee if you go against something i do. a lot of conservatives don't like it when he plays hardball. they're going to continue to fight back just like senator demint is doing right now. >> but he's also going to lose some votes on the moderate side. a couple...
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cliff. ♪ [ female announcer ] today, it's not just about who lives in the white house, it's about who lives in the yellow house, the green, and the apartment house, too. today we not only honor the oval office, but we honor the cubicle, and the home office as well. because today it's about all of us. and no matter who you are, you're the commander-in-chief of your own life. ♪ monarch of marketing analysis. with the ability to improve roi through seo all by cob. and you...rent from national. because only national lets you choose any car in the aisle... and go. you can even take a full-size or above, and still pay the mid-size price. i'm going b-i-g. [ male announcer ] good choice business pro. good choice. go national. go like a pro. >>> stock of the day. research in motion. get your blackberry out. >> yeah, i do. >> shares were risinging inon upgrade from goldman-sachs, and more optimism about the blackber blackberry. gold man now expects we're going to get what to profitability in the coming fiscal year. consensus is for a loss. do you want
cliff. ♪ [ female announcer ] today, it's not just about who lives in the white house, it's about who lives in the yellow house, the green, and the apartment house, too. today we not only honor the oval office, but we honor the cubicle, and the home office as well. because today it's about all of us. and no matter who you are, you're the commander-in-chief of your own life. ♪ monarch of marketing analysis. with the ability to improve roi through seo all by cob. and you...rent from national....
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the fiscal cliff and we may delay the fight. president obama addresses the business roundtable and that could be critical. david has an exclusive interview with ken moelis. back to you guys. >> let's get six in 60. six stocks in 60 seconds. >> yesterday's news overshadowed by many things. a fantastic quarter. we knew it would be household formation buying on weakness. >> 17 straight. number of quarters where they beat it. this was a major miss. >> rbc does not like clf. this is again china. i don't like it either but china is coming back. >> naz 100 taking on facebook. >> money is an index to the naz 100. people paid for this in premarket. it was a mistake. >> citi thinks limited can do a special div. >> limited has a lot of cash. gap said no yesterday. hurt the stock. >> goldman starts utx neutral. great company. a slap in the face, carl. boom. slap in the face. >> you got that right. what's on "mad" tonight? >> i have been featuring these investment -- look, the etf. i've been feeling they know america. i have to know how bad
the fiscal cliff and we may delay the fight. president obama addresses the business roundtable and that could be critical. david has an exclusive interview with ken moelis. back to you guys. >> let's get six in 60. six stocks in 60 seconds. >> yesterday's news overshadowed by many things. a fantastic quarter. we knew it would be household formation buying on weakness. >> 17 straight. number of quarters where they beat it. this was a major miss. >> rbc does not like clf....
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hits the fiscal cliff. both sides are blaming each other. timothy geithner pushing the gop to offer specific ideas and predicts they will eventually yield on raising tax rates on the wealthy. house speaker john boehner standing firm against higher taxes. sgr we' >> we've put a serious offer on the table by putting revenues up there. but the white house has responded with virtually nothing. >> why does it make sense for the country to force tax increases on all americans because of a small group of republicans won't extend tax rates for 2% of americans. there's no reason why that should happen. >> democratic strategy from bgr joining us. we'll always get a standoff at some point in these negotiations. is it a terminal standoff? when does somebody blink? >> it's not a matter of who will blink or not. i think that the republicans are trying to go tit for tat with the president. you have to realize that the president has the bully pulpit and the ability to command media. so the republicans feel the need to respond to every maneuver. i think fran
hits the fiscal cliff. both sides are blaming each other. timothy geithner pushing the gop to offer specific ideas and predicts they will eventually yield on raising tax rates on the wealthy. house speaker john boehner standing firm against higher taxes. sgr we' >> we've put a serious offer on the table by putting revenues up there. but the white house has responded with virtually nothing. >> why does it make sense for the country to force tax increases on all americans because of a...
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welcome. >> thank you. >> so the fiscal cliff issue, end of the year is looming. we saw the response to this opening gambit by president obama. how likely is it that this is the final plan put forward, what elements do you expect to be most critical here as talks continue? >> i think there will be a lot of brinkmanship. this is just the beginning of the process. i think it will be a while. we'll probably go into next year and actually go over the cliff temporarily before they get a deal. >> so you're in the over the cliff camp. >> if you talk to people in washington, they think it will be done before christmas. how can they say we'll go away on say case, don't worry, we'll be back and solve this, but i think it will be pretty tough to solve it before we actually go into next year. >> merry christmas, here is your tax hike? >> i think people are preparing for that anyway. i think everyone realizes that tax rates for upper households will go up. >> certainly companies are aware of what's happening. >> you're seeing more deals to take advantage of the lower capital g
welcome. >> thank you. >> so the fiscal cliff issue, end of the year is looming. we saw the response to this opening gambit by president obama. how likely is it that this is the final plan put forward, what elements do you expect to be most critical here as talks continue? >> i think there will be a lot of brinkmanship. this is just the beginning of the process. i think it will be a while. we'll probably go into next year and actually go over the cliff temporarily before they...
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this makes the white house as extreme in the house who are willing to go over the fiscal cliff instead of raising taxes on the wealthy. he's talking about the rates. he said rates on the wealthy. >> larry summers is a former treasury secretary, very smart, a harvard professor and we agree on a lot of things and that was not new. they've already agreed to raise rates on the wealthy. >> raising tax rates has been something the president's insisted on for two years. it was a central issue in the campaign. >> don't you think the republicans -- >> i think everybody gets it. the president is not signing legislation, no way, that does not raise tax rates. i think the president has been as clear as day that he will not do it without raising the level of tax. >> marginal? >> including marginal tax rates. he said the 35% rate has to move up, that base broadening alone is insufficient. >> maybe not 39.6. >> he has been as clear as day on that point. the president's position as i understand it has been that we have to raise rates but he is certainly prepared to combine rate raising with base broad
this makes the white house as extreme in the house who are willing to go over the fiscal cliff instead of raising taxes on the wealthy. he's talking about the rates. he said rates on the wealthy. >> larry summers is a former treasury secretary, very smart, a harvard professor and we agree on a lot of things and that was not new. they've already agreed to raise rates on the wealthy. >> raising tax rates has been something the president's insisted on for two years. it was a central...
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the obama administration is fully prepared to go off that fiscal cliff if republicans don't agree to tax hikes on the wealthiest americans. let's bring in congressional correspondent kate bolduan. the white house won't budge on taxes. the republican led house takes a break. can you make sense of this for us? >> i think that's a little above any of our pay grade trying to make sense of it all other than it seems that it's one more fight that we've seen over and over again and we are seeing once again it play out almost as it appears slow motion, carol. you mention the call between speaker boehner and president obama. they may have talked. no read out of the call per se. we are still a long way away from a deal that is for sure. why? because at its most basic neither side is giving on their primary position. president obama continues to insist over and over again any deal must include a tax rate increase on the top 2% of wage earners which republicans just as firmly insist is a nonstarter. today the president is going to continue his public pressure campaign according to the white hous
the obama administration is fully prepared to go off that fiscal cliff if republicans don't agree to tax hikes on the wealthiest americans. let's bring in congressional correspondent kate bolduan. the white house won't budge on taxes. the republican led house takes a break. can you make sense of this for us? >> i think that's a little above any of our pay grade trying to make sense of it all other than it seems that it's one more fight that we've seen over and over again and we are seeing...
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fiscal cliff scenario to play out, wolf. but as you point out when we look back over the last three years, we've had these kinds of negotiations, it at times appears very optimistic that things will get done, then both sides very far apart. but in the final hours they get a deal done. that's the hope that despite the rhetoric what you're hearing now that this deal will happen before the end of the year. >> all right. we can only hope that there will be a compromise, this fiscal cliff will be avoided. dan lothian, thank you. not everyone seems to think it would be such a bad idea to actually go over the fiscal cliff. just one day after the treasury secretary said the white house is absolutely prepared to do just that under certain circumstances a leading economist is echoing those sentiments. >> i would not come up with a deal unless it's a really good deal before the end of the year. i would take it into next year if that means you're going to get a better deal. >> let's bring in our senior congressional correspondent dana b
fiscal cliff scenario to play out, wolf. but as you point out when we look back over the last three years, we've had these kinds of negotiations, it at times appears very optimistic that things will get done, then both sides very far apart. but in the final hours they get a deal done. that's the hope that despite the rhetoric what you're hearing now that this deal will happen before the end of the year. >> all right. we can only hope that there will be a compromise, this fiscal cliff will...
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jersey shore meets fiscal cliff. chris christie was at the white house and on capitol hill today asking for more federal funding for the sfotorm ravaged state. a republican is asking for more money from washington, as republicans slam the president for additional spending is, well, perhaps problematic. democratic senator chuck schumer whose own home state of new york was hard-hit pointed out the irony of christie's request today saying it doesn't come at an opportune time of the fiscal cliff, both the talks and the fact we're short on money. will it hurt his party or not? roland martin joins me. good to see both of you. ryan, you spoke very early on about how well you thought chris y christie handled this sform politically and ever other way, but now he asks for fungd as republicans try to cut spending. is he hurting his own party? >> whether you're a republican or democratic governor you want to secure money from federal taxpayers. that's a classic move. it sure is. is it undermining republicans in congress? it prob
jersey shore meets fiscal cliff. chris christie was at the white house and on capitol hill today asking for more federal funding for the sfotorm ravaged state. a republican is asking for more money from washington, as republicans slam the president for additional spending is, well, perhaps problematic. democratic senator chuck schumer whose own home state of new york was hard-hit pointed out the irony of christie's request today saying it doesn't come at an opportune time of the fiscal cliff,...
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. >> this fiscal cliff thing, the problem with the republicans larry, is that they have been boxed in by the democrats into a difficult position where the polls confirm that the public in america believe that the reason that president obama is going to win the debate that if he goes over, that they are going to save the backsides of the wealthy 2% of americans. i probably shouldn't but i do. >> with which i agree but i think the risk here for the gop is that they become the party of rich people. and i think you saw that in the election. i don't think that is their intent. i think their intent is quite sound. >> they are becoming the party of rich white older men. you can't think of any other section of the community right now thinking the republican party is for me. >> i think that is why the politics of this make it possible to go over the cliff. i think the democrats see if we go over the cliff the republicans get blamed. meanwhile. i think the republicans worry about bei ining blamed by a pri contender with the field. that doesn't mean they are obliged to stop this. his own party i
. >> this fiscal cliff thing, the problem with the republicans larry, is that they have been boxed in by the democrats into a difficult position where the polls confirm that the public in america believe that the reason that president obama is going to win the debate that if he goes over, that they are going to save the backsides of the wealthy 2% of americans. i probably shouldn't but i do. >> with which i agree but i think the risk here for the gop is that they become the party of...
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got another 24 hours closer to the edge of the fiscal cliff which is why we have our eyes on the white house press briefing. got a live picture ready for you so we don't miss anything. for what it's worth, president obama and house speaker boehner are talking. they had a nice telephone conversation. that's terrific. the first time in a week but apparently that's the headline. that's the editorial body. not much came out of it that we know of. sources say no real breakthrough. no formal negotiations. sessions are not scheduled. no back channel discussions taking place that anybody knows about at this time and as we wait for the white house briefing to begin, let's bring in wolf blitzer on this topic. there are a couple of polls that are very telling about how americans feel about congress and the president are behaving when it comes to the fiscal cliff. let me read some of these numbers for you. should obama compromise to get things done. 72% say yes. 22% say no. should the gop compromise to get things done. and take a look. 72% say yes. my question for you, wolf, i'm not sure you'll ha
got another 24 hours closer to the edge of the fiscal cliff which is why we have our eyes on the white house press briefing. got a live picture ready for you so we don't miss anything. for what it's worth, president obama and house speaker boehner are talking. they had a nice telephone conversation. that's terrific. the first time in a week but apparently that's the headline. that's the editorial body. not much came out of it that we know of. sources say no real breakthrough. no formal...
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this fiscal cliff thing, the problem with the republicans, larry, is that they have been boxed in by the democrats into a difficult position where the polls confirm that the public in america believe that the reason that president obama is going to win the debate is because, come the fiscal cliff moment, that if he goes over, that they are going to save the backsides of the wealthy 2% of americans. i probably shouldn't but i do. >> speaking as a reagan conservative, i must say i rather agree with you. probably shouldn't. but i do. i think divided government is very difficult. and there's some principles that speaker boehner is fighting for, with which i actually agree. but i think politically, the risk here for the gop, is they've become the party of rich people. and they give up the middle-class to the democrats. and i think you saw some of that in the presidential election. i don't think that's their intent. i think their tax reform intent is quite sound. but the way this is playing out, i think that's a big risk for them. >> they're becoming the party of rich, white, older men, is
this fiscal cliff thing, the problem with the republicans, larry, is that they have been boxed in by the democrats into a difficult position where the polls confirm that the public in america believe that the reason that president obama is going to win the debate is because, come the fiscal cliff moment, that if he goes over, that they are going to save the backsides of the wealthy 2% of americans. i probably shouldn't but i do. >> speaking as a reagan conservative, i must say i rather...
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with the fiscal cliff pr campaign. he is meeting with a middle class family in northern virginia, and the white house says the president is going to talk about his efforts to extend tax cuts for the middle class as part of this debt deal. well, some economists are predicting that the country will go into another recession if this debt deal is not reached. any deal that the lawmakers and white house come up with is also going to have a major impact, so joining us to talk a little bit about it, peter morrissey. he is a business professor at the university of maryland, and our own chief business xhnt ali velshi. you wrote something, an article here, predicting that these tax hikes, the spending cuts likely in the debt deal, could push unemployment, you believe, from 7.9% all the way to 10%. how so? >> well, simply it will cut spending in the economy. the wealthy will have less money to spend, but the government will likely be spending a lot less money as well because the republicans are going to want spending cuts. you co
with the fiscal cliff pr campaign. he is meeting with a middle class family in northern virginia, and the white house says the president is going to talk about his efforts to extend tax cuts for the middle class as part of this debt deal. well, some economists are predicting that the country will go into another recession if this debt deal is not reached. any deal that the lawmakers and white house come up with is also going to have a major impact, so joining us to talk a little bit about it,...
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cliff discussions. only 28% said they would behave like responsible adults. tonight, signs that maybe some adult behavior might be prevail. and a compromise might be reached. joining me now live is senior white house correspondent dana bash, jessica yellin and david gergen. what's the latest? what are you hearing? >> reporter: they are a long way from a deal. but late today speaker boehner and president obama did speak to one another on the phone. now, this is an important development because it's the first time they've talked in a week about the fiscal cliff. i am told, though, that there was no real progress in negotiations. in this sense there was no breakthrough on that central point of tax rates. as you know, president obama insists there is no deal unless the gop agrees to raise rates on the top 2% of earners. the gop says that's a nonstarter. and the two men have not moved from that basic position. now, all of this comes at the same time treasury secretary geithner also said for the first time th
cliff discussions. only 28% said they would behave like responsible adults. tonight, signs that maybe some adult behavior might be prevail. and a compromise might be reached. joining me now live is senior white house correspondent dana bash, jessica yellin and david gergen. what's the latest? what are you hearing? >> reporter: they are a long way from a deal. but late today speaker boehner and president obama did speak to one another on the phone. now, this is an important development...
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fiscal cliff, 26 days away. christine romans explains how going over the cliff could affect you and your family. >> reporter: brooke, here's what the sequester could mean for domestic programs. fewer women and children with assistance and child care aid. cuts to education nearly 100,000 head start spots at risk. more than 25,000 teachers and teachers aids could lose their jobs and science and public research grants could be cut including in to cancer and childhood diseases. fewer americans could receive drug abuse treatment and $700 million slashed from the epa budget. cutting back of food inspection. disaster relief, omb says, quote, the federal emergency management administration's ability to respond would be undermined. and finally, from border patrol to hiring new fbi agents, correction officers, federal prosecutors, all could be scaled back. now, all of these cuts, brooke, don't happen exactly at 12:01 a.m. on january 2nd. they happen over the course of a year. but agencies are preparing for an impasse in w
fiscal cliff, 26 days away. christine romans explains how going over the cliff could affect you and your family. >> reporter: brooke, here's what the sequester could mean for domestic programs. fewer women and children with assistance and child care aid. cuts to education nearly 100,000 head start spots at risk. more than 25,000 teachers and teachers aids could lose their jobs and science and public research grants could be cut including in to cancer and childhood diseases. fewer...
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fiscal cliff as a three-part problem. part one taxes. in the new year, taxes go up on everyone unless washington takes action. the government needs more money. president obama wants to get some of it from the top 2% of wage earners. he wants to raise their tax rate and limit how much they can deduct. the white house says this will bring in $1.6 trillion over ten years. >> that's what the american people have voted for. >> republicans say they'll agree to bring in more money, but not by raising tax rates. in fact, they want to lower tax rates for everyone. instead they'd raise money only by limits deductions and closing loopholes. speaker boehner says this will raise $800 billion over ten years. >> america faces a serious problem. our goal is to make sure it gets solved. >> step two, avoiding the drastic spending cuts that begin on january 1st, the so-called sequester. both sides want to find savings in medicare, but disagree about how to do it. >> we need a responsible white house. we can't sit here and negotiate with our
fiscal cliff as a three-part problem. part one taxes. in the new year, taxes go up on everyone unless washington takes action. the government needs more money. president obama wants to get some of it from the top 2% of wage earners. he wants to raise their tax rate and limit how much they can deduct. the white house says this will bring in $1.6 trillion over ten years. >> that's what the american people have voted for. >> republicans say they'll agree to bring in more money, but not...
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you're a republican, he's democrat. 30 days and counting until we go over the fiscal cliff unless congress in the white house cuts a deal to avoid tax cuts. it sounds like two groups of people are looking at two different sets of numbers. take a look. >> we prefer to do upfront alongside a deal that includes raising rates on americans. we are prepared to do a meaningful amount of spending on the saving side, not just to avoid the damage of the sequester but to help reduce our long-term deficit. >> i was disappointed by the president's proposal. i think it is essentially a rerun of his budget proposal. the revenue proposals are $1.6 trillion in revenue and tax increases. it's a massive tax increase. but also not significant and meaningful in entitlement reforms. >> so, anna, i hear comments like those and remarks by john boehner and the president of the united states and i wonder after the election, did we learn anything? because i -- my reading on the election was that the people, the voters wanted compromise. and for the people in washington to talk to each other not at each other. that s
you're a republican, he's democrat. 30 days and counting until we go over the fiscal cliff unless congress in the white house cuts a deal to avoid tax cuts. it sounds like two groups of people are looking at two different sets of numbers. take a look. >> we prefer to do upfront alongside a deal that includes raising rates on americans. we are prepared to do a meaningful amount of spending on the saving side, not just to avoid the damage of the sequester but to help reduce our long-term...
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edges steadily closer to the fiscal cliff, there are high level talks between the white house and congress. can they cut a deal in time? as mexico's bloody drug wars claim another high profile victim can a new leader end the violence. i'll speak exclusively with mexico's new president. and it was hidden away for decades. we'll take the wraps off a long secret u.s. plan to explode a nuclear bomb on the moon. we want to welcome our viewers in the united states and around the world. i'm wolf blitzer and you're in the situation room. >>> we begin with huge confrontations shaping up between president obama and republicans involving the most important decisions the president needs to make in his second term. >> we're now a month away from the so called fiscal cliff. a drastic combination of mandatory spending cuts and tax hikes that could plunge the united states back into a recession. while there are plenty of hard w0rds from both sides, some terms of a possible zeal are making the rounds. kate bolduan has been following the back and fourth. >> don't get too excited about that, there's only one
edges steadily closer to the fiscal cliff, there are high level talks between the white house and congress. can they cut a deal in time? as mexico's bloody drug wars claim another high profile victim can a new leader end the violence. i'll speak exclusively with mexico's new president. and it was hidden away for decades. we'll take the wraps off a long secret u.s. plan to explode a nuclear bomb on the moon. we want to welcome our viewers in the united states and around the world. i'm wolf...
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cliff resolved, but yet we aren't seeing anything from the white house. we see some disingenuous moves like the one that was done today. last week it was, oh, you guys go first. we're not going to put anything on the table until you vote for a tax increase. so many of us feared that the president's real plan here was to let us go over the cliff and blame the republicans, and that's what we look like we're being set up to do. and then if you go over the cliff, then two months later, a month later, the president can come back with a bill and say, hey, we're going to now, since the republicans let everyone's taxes go up, i'm going to ride in here now, be the knight in shining armor and lower the taxes on the lower two brackets and, of course, the republicans who one of our main values is lower taxes, would support something like that. >> congressman terry, that doesn't make any sense to me because while that sounds like logic, there's that other side of the fiscal cliff, all those horrible cuts that could plunge us into a depression and all the rest that no
cliff resolved, but yet we aren't seeing anything from the white house. we see some disingenuous moves like the one that was done today. last week it was, oh, you guys go first. we're not going to put anything on the table until you vote for a tax increase. so many of us feared that the president's real plan here was to let us go over the cliff and blame the republicans, and that's what we look like we're being set up to do. and then if you go over the cliff, then two months later, a month...
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fiscal cliff. the president says the republicans have to agree to raising the marginal tax rate for the wealthiest top 2% from 35%. does he mean it has to go back up to 39.6% as was the case during the clinton administration or is there some wiggle room in between 35% and 39.6%? >> the president has repeatedly said there's room for compromise. but what this boils down to is a matter of fairness and a matter of math. giving certainty to the middle class is essential. there's no way mathematically, if you look at the republican's proposal, that you can get to the deficit reduction that we need to with preserving the middle class tax cuts by not increasing as the republicans refuse to do the upper tier rates. there's room for discussion, but that -- >> so the 39.6%, that's not a red line? >> as far as i know and the conversations i've had, the president has said there's room for compromise, but for the red line to be drawn in the sand by republicans to say that an increase in rates on the wealthiest a
fiscal cliff. the president says the republicans have to agree to raising the marginal tax rate for the wealthiest top 2% from 35%. does he mean it has to go back up to 39.6% as was the case during the clinton administration or is there some wiggle room in between 35% and 39.6%? >> the president has repeatedly said there's room for compromise. but what this boils down to is a matter of fairness and a matter of math. giving certainty to the middle class is essential. there's no way...
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cliff, and achieving t the balance the white house says it wants. i made clear we put real concessions on the line by putting revenues on the table right up front. unfortunately, many democrats continue to rule out sensible spending cuts that must be part of any significant agreement that will reduce our deficit. and mr. bowles himself said there is no serious discussion of spending cuts so far. and unless there is, there is a real danger of going off the fiscal cliff. listen, going off the fiscal cliff will hurt our economy and will cost american jobs. republicans have taken action to avert the fiscal cliff by passing legislation to stop all the tax hikes. to replace the sequester, and pave way for -- pave the way for tax reform and entitlement reform. and we're the only ones with a balanced plan to protect the economy, protect american jobs, and protect the middle class from the fiscal cliff. but without spending cuts and entitlement reforms, it's going to be impossible to address our country's debt crisis. and get our economy going again and to c
cliff, and achieving t the balance the white house says it wants. i made clear we put real concessions on the line by putting revenues on the table right up front. unfortunately, many democrats continue to rule out sensible spending cuts that must be part of any significant agreement that will reduce our deficit. and mr. bowles himself said there is no serious discussion of spending cuts so far. and unless there is, there is a real danger of going off the fiscal cliff. listen, going off the...
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top republican literally chuckles at the white house offer on the fiscal cliff. where do we go from here? >>> the man in the middle, ambassador jon huntsman, what he has to say about his party post election and why he's defending susan rice on benghazi when so many other republicans are piling it on. >>> god deed gone viral, hero cop who bought boots for a homeless man on a cold new york city night. >> it is friday, november 30th. "starting point" begins right now. >>> our "starting point this morning, no tangible progress here in the fiscal cliff talks. the tone is turning nasty now. 32 days until the tax rates soar, spending gets slashed and congress, guess what, they break for the holidays in two weeks. >> this is where things stand right now. the president unveiling a plan that calls for $1.6 trillion in tax hikes, hikes, and $50 billion in new -- that's right, new infrastructure spending. he will use the manufacturing plant in pennsylvania as a backdrop today to try to sell this plan. republicans sure aren't buying it yet. they want to hear about spending cu
top republican literally chuckles at the white house offer on the fiscal cliff. where do we go from here? >>> the man in the middle, ambassador jon huntsman, what he has to say about his party post election and why he's defending susan rice on benghazi when so many other republicans are piling it on. >>> god deed gone viral, hero cop who bought boots for a homeless man on a cold new york city night. >> it is friday, november 30th. "starting point" begins right...